Wood Mills Industries Limited (WMI) was incorporated on 22nd September 1976 with registration no. RC19140 and share capital of N750,000.00 by Mr. P. Tonella (Italian) of EDILIT, a Construction Company and Mr. S.I. Fawehinmi (Nigerian) of FAWEHINMI FURNITURES FACTORY (FFF), with mr. Fawehinmi listed as the company director. The Company was floated as a saw mill with the purpose of supplying both companies semi processed wood for their furniture and construction businesses.
The Company started operation in 1977 but after the departure of Mr. Tonella from Nigeria in 1978, its activities started to dwindle due largely to the loss of its supporter and till it closed in 1982. In march 1990 mr. Gianacarlo & Mrs. Maja Mori took over the operation of the company, owing 60% and 35% respectively, while Mr. R.O. Fawehinmi held the remaining 5% Mr. R.O Fawehinmi was the son of the co-founder S.I. Fawehinmi.
WMI, under the management of Mr. &Mrs. Mori concentrated on the production of wooden floor strips to the semi-finished stage even though there were other products like doors and window frames, skirting, shelves etc. because the orders from abroad were well above the full capacity of the Company. The company then had two saw mills processing wood to meet the needs (Ijebu-ode and Ore). The company exports its product to Italy and sells through a Swiss based sister company who buys from WMI and resells in the international market. It also enjoyed the support of the Italian shipping line, Linea Messina, which gives a favourable ocean freight rate to the company.
Over the years the company changed ownership and forms but had made valiant effort to stay afloat. In 1994, when leaving the country, Mr Mori and wife transferred their 95% ownership over to Mr. Gianluigi Drovetti. He had the company managed by Mr. Sergio Gazzina and later by Mr. Teresio Delsignore, under whose supervision and management the company upgraded its product to the fully finished stage in 1998, through the acquisition of modern machineries and computerized system of kiln drying. The improved products and increased export value put WMI in the rank of export companies collecting export grants from the government thereby increasing the profit margin. This era could well be described as the peak or prosperity period of the company.
However in the throes of the economic depression, the company, under its Italian administration, made a final effort to turn the tide around by diversifying into production of production of doors, solid wood, flush, glazed etc. but could not sustain. This necessitated the sale of its share to the present owners in 2013.
Wood Mills Industries Limited is a wood working industry dealing with production of furniture, floor tiles, cabinets and other wood products. Wood Mills products are very strong, durable and elegant which is why they created a niche for customer’s satisfaction, this fairly huge cost will be eclipsed by a long-term relationship that is already established out of earned respect in the market.
WMI serves industries and individual both locally and internationally. WMI will be generating new customers through combination of networking and media adverts in order to introduce her products to the unreached segments of the population.
WMI is a company, if adequately funded, that will reached profitability by month eight and have modest profits by the end of year three.
The company was duly accredited by Federal Ministry of Budget and Planning as an Exporter. It also has the Federal Department of Forestry approval for exportation of its product i.e. Wood Floor tiles. The Company in its early days was duly registered with practically every applicable governing body and Unions, a recognized name in the Woodworking industry and export business, boasting of well over 160 staff/casusal workers and a handful of expantriate staff.
Its share capital increased in stages from the initial 750,000 in 1976 to 1,000,000 in 1993, then 20,000,000 in 1998 and to its present share value of 50,000,000 in the year 2000.
Our Mission
WMI mission is to produce high quality products for our customers. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Our products will exceed the expectation of our customers.
Objectives
- To expand the scale of operation.
- To increase the volume of trade by at least 20% per year.
- To develop a sustainable wood work company that generates value for their customers.
Company Summary
Wood mills industries limited is a company situated in Ota Ogun State with offices in Lagos State, Nigeria. WMI is a limited liability company that is limited by shares. WMI produces for all classes, i.e. low, middle and upper classes in the society.
Company Ownership
Wood Mills Industries Limited is owned by shareholders. The promoters that subscribed to her memorandum and article of association are: Mr. Ayoyinka Akinyosoye, Professor Olukayode S. Oyediran, Mrs. Adetokunbo Akinyosoye and Mr. Marco Zocolli.
Expansion Summary
- Modern Machineries for wood processing
- More office and sales outlets
- Computers, Copiers, Printers and Fax machine
- More Delivery Van, Vehicles and Trailers
- Computers, Copiers, Printers and Fax machine
- Wages and Salaries
Expansion Requirement
| Cost of plant & machineries and installation cost | 350,000,000.00 |
| Factory revolution | 20,000,000.00 |
| Cost of production & other direct cost | 130,000,000.00 |
| Salaries & wages | 17,000,000.00 |
| Administrative cost | 14,000,000.00 |
| Professional fees | 1,000,000.00 |
| Contingency | 1,000,000.00 |
| Total Expansion Expenses | 533,000,000.00 |
Credible Customer Base
Our customer base has been quite impressive, amongst whom we have Olusegun Obasanjo Presidency Library, Cappa & D’albeto, Orangeline, Ave Maria Hospital, Fountain of Life Church, New Techniques Construction Limited, Prodeco Construction Limited, Ral Construction Limited, Wood Bond Limited to mention a few. The various jobs we did for these customers are already serving as signatures.
